15 Jul '13, 6am

What everyone should know about bitcoin - Technology Zimbabwe #bitcoin

What everyone should know about bitcoin - Technology Zimbabwe #bitcoin

Your wallet can be hacked (https://en.bitcoin.it/wiki/Weaknesses ) They can drop in value after you buy them. This year alone, the price of a Bitcoin has rose from less than US$20 to over $250 and has dropped to (at the time of this writing ) $115. I doubt however that the Redditor with a wife and child who used the $30,000 limit on his credit card to buy Bitcoin when it was valued at $14-25 USD and cashed out when it went above $200 is complaining. Government could step in and try to regulate it. FinCERN has already started to do so in the US . Transactions are uninsured and totally irreversible. But maybe this is actually an advantage. It’s traceable – the whole network sees that a particular transaction happened, and that money moved from one place to another place. It is possible however to make a payment without attaching your identity to the payment. It can be used t...

Full article: http://www.techzim.co.zw/2013/07/what-everyone-should-kno...

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